indie Semiconductor, Inc. (NASDAQ:INDI) Receives $6.45 Consensus Price Target from Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.45.

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price objective on indie Semiconductor in a research note on Sunday, February 22nd. Finally, Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th.

Insider Buying and Selling at indie Semiconductor

In related news, CEO Donald Mcclymont sold 90,644 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $3.56, for a total transaction of $322,692.64. Following the sale, the chief executive officer owned 282,393 shares of the company’s stock, valued at $1,005,319.08. This represents a 24.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Ichiro Aoki sold 50,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.57, for a total transaction of $128,500.00. Following the transaction, the president owned 100,952 shares of the company’s stock, valued at $259,446.64. This trade represents a 33.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 399,420 shares of company stock worth $1,308,089. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new stake in indie Semiconductor during the third quarter worth approximately $41,000. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor in the 2nd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after purchasing an additional 10,999 shares during the period. Jump Financial LLC purchased a new position in shares of indie Semiconductor in the 2nd quarter worth approximately $39,000. Finally, Gainplan LLC bought a new position in shares of indie Semiconductor during the 4th quarter valued at approximately $39,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

INDI opened at $2.56 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The stock has a market capitalization of $562.25 million, a price-to-earnings ratio of -3.51 and a beta of 2.55. The company has a fifty day moving average of $3.58 and a 200 day moving average of $4.01. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, sell-side analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.